Happy Forgings reaffirms credit rating from ICRA

Happy Forgings Limited has received a reaffirmation of its credit ratings from ICRA, as communicated to both BSE Limited and National Stock Exchange of India Ltd on October 1, 2025. The company's long-term rating remains at “[ICRA] AA (Stable)," while its short-term rating is “[ICRA]A1+” for various bank facilities totaling ₹485 crores.

While the overall rated amount of ₹485 crores remains unchanged, there has been a reallocation across the various bank facilities. The long-term/short-term fund-based facilities have been adjusted from ₹260 crores to ₹210 crores. A new category, short-term fund-based bill discounting, has been introduced with a rated amount of ₹150 crores.

Additionally, the long-term/short-term unallocated limits have been revised from ₹225 crores to ₹125 crores. These adjustments indicate a restructuring of the company’s bank facility allocations while maintaining overall financial stability, as affirmed by the reiterated credit ratings.